EURUSD

Quoting HappyMe

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{quote} Well yes I think we saw the low we were searching for.... For now I think wave i is finished.... (if we go higher wih the wave i...that looks too bullish to me!...or we need a deep wave ii then)... but oke...for now I can make a valid 5-wave count from 1.1301 to 1.1348...so yes this could be the final wave c of wave i.... Then were is the wave ii ending...? maybe we saw it already.... it looks like a zigzag in the lower time frames...but the moves were to violent to get a proper count out of it. So.... a) we maybe saw the low of wave ii...

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Quoting Techanalyst

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{quote} It is all manually drawn. If you draw it wider, it would be more confusing and you would not be sure where to enter. You notice, as soon as it crosses blue box and moving average(20), there is a bull candle and confirmation to enter long. Of course that blue box is drawn by looking at higher time frame lime M30 or H1 chart. After that you can go on lower time frames like M15 or M5 and enter there. This one is on M5 chart. But you have to sit in front of a computer for couple hours to catch these moves. That is why when I trade, I have forexfactory...

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Quoting micho

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by the way happy, i tried to look into eliott wave theory over the weekend and tried to spot it on some pairs. it was extremely difficult to understand what and where even in the past. the easiest i could spot, which might or might not be accurate is EURCAD 1-2-3-4-5 then a-b waiting for c up around the yellow line my normal system im testing points south to the target of the blue expansion, with a stop on top of the max blue retracement, now its too late to enter unless we go back up but eliott points north to yellow line which might come true...

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Quoting micho

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{quote} its very tricky the way you draw the blue lines because few pips up or down then the whole setup changes. what do you look for in the higher time frames? im asking because i used to trade envelopes opposite to you back in time so this pattern are very familiar to me

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Quoting s3padrian

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{quote} Micho, there are three main derivatives of EWT: 1. Prechter - His most resembles classical ewt with his own additions. 2. Neely - Adds a large set of rules and classes to EWT, called Neowave 3. Cospey - Adds a different set of rules, ratios and classes, called Harmonic Elliott Wave I find that Neely and Cospey to give more accurate counts for trading; however, they aren't perfect by any stretch. All three can be scary accurate but all three can also have counts that don't go anywhere near as planned.

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Quoting Techanalyst

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{quote} I heard of envelope trading. It is similar but it is not the same. What I look for in higher time frames are trends and ranges and so on. I will attach now GBPUSD just recently took the trade it was sell I will show you. {image}

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Quoting s3padrian

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{quote} Micho, there are three main derivatives of EWT: 1. Prechter - His most resembles classical ewt with his own additions. 2. Neely - Adds a large set of rules and classes to EWT, called Neowave 3. Cospey - Adds a different set of rules, ratios and classes, called Harmonic Elliott Wave I find that Neely and Cospey to give more accurate counts for trading; however, they aren't perfect by any stretch. All three can be scary accurate but all three can also have counts that don't go anywhere near as planned.

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Quoting Techanalyst

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Can sell where the blue arrow is pointing but not a confirmation for me. I wait until the candle crosses where the green arrow is pointing meaning it crosses the mvoing average(20) and it just touched below the blue box. That tells me the big possibility is sell. Again, you have to close the profit where you feel like you earned enough. My advice is to keep it 10-20 pips no more. Because this is intraday trading. I place stop loss just above moving average(20). {image}

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Quoting micho

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{quote} nice, check one of my last few posts in EURUSD this week ... i have attached my miracle EA from 2008. it uses simply envelopes... results are scary dont use it now, it does not work anymore, but used to work since 1999 your way of trading is exactly opposite to my ex EA!!! once again your blue box is confusing me, why on this price, why not a pip up or down or or or...

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Quoting micho

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{quote} is this correct? {image}

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Quoting micho

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what about this one? {image}

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Quoting Techanalyst

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{quote} It looks good you could take that as buy. But according to my rules, because again i am intraday trader/scalper, I would wait until it goes above moving average and just crossing the box. But it all depends what your rule and strategy is. My strategy is to get a quick profit and get out. Yours may be to hold a trade the whole day or couple days and take profit where you are satisfied. I am minimizing as much losses as I can and taking profits as much as I can. Also if you take a look at that big green previous candle that is liquidity and...

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Quoting attilafx

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Euro very weak, couldn't even get up to the 1.1362 {image}

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